- Gracie Chen, managing director of Biget, discusses important global trends for this year and next year.
- She mentions five trends: Fed's interest rate cut, Bitcoin and cryptocurrency industry benefiting from the interest rate cut, BTC huffing and Spot ETF driving the price of Bitcoin, Ethereum's Kankun upgrade driving layer 2 hype, new public chains with high potential, and TGbots with huge potential.
- Gracie also provides information about Biget, a top 5 global exchange in the derivative market, with 20 million users and a daily trading volume of 3 to 10 billion USD.
- She mentions Biget's protection fund, its ecosystem including investment and venture teams, and its research team.
- Gracie believes that the crypto market is currently in a bear market, but expects a bull market to come next year with increased Bitcoin prices and more innovative projects in the crypto space.

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Keynote: Global Lookout - Looking Back and Looking Forward

Speaker:
Gracy Chen, Managing Director @ Bitget

Stage: NEXPACE Stage

#token2049 #bitget #socialtrading #stateofcrypto #futureofcrypto

I'm Gracie Chen, managing director of Biget.

Since I arrived slightly later because of traffic, I'm really sorry.

So I'll spend about 7 minutes just to go through some global outlook trends that we think are very important this year and next year and also share a little bit about Big Ad, what we do, you might see our logo somewhere and what we do.

Actually, we had a very exciting launch yesterday.

I'll share with you guys about that as well.

So let's look at what are the important things happening this year.

This click doesn't work, but basically we will look at, okay here we are.

So there are 5 trends that we think are very important this year and next year.

Fed's interest rate cut because right now the Fed interest rate is about 5.25 to 5% 5.5% which is unsustainable in our opinion and we think the decrease might happen next year and that means the money will flow into different markets when the bond market is having an interest rate cut and 1 of those markets benefiting is definitely Bitcoin and cryptocurrency industry.

So everyone cares about what's the BTC price.

Basically, Huffing and Spot ETF, these 2 events will drive the price mainly, especially Spot ETF.

It's becoming clearer and clearer that you will be approved.

And then Ethereum, Kankun upgrade, some new public chains and also TG bots.

So touch a bit on the decrease of interest rate already.

Right now it's very high and with interest rate cuts, money will flow into our space.

As for BTC huffing, so we know Bitcoin right now consists about 50% of the whole market cap and I just want to have a show of hands.

How many of you think Bitcoin huffing will still have a huge impact in the Bitcoin industry?

Okay, about maybe a quarter and how many of you think it may not have a huge impact?

Okay, I'm more on the later side, honestly, but because of the fact that BTC ETF will very likely be approved also next year, early half of the next year, as well as the interest rate decrease.

We think the time might still coincide with the Bitcoin halving, but it's not because halving has a huge impact.

But basically, people have different views.

I would love to talk to you guys after the session and find out more about what you think and let's discuss.

So, Spot ETF, as we know, there are 7 big institutions in the United States, including BlackRock, Fidelity, Wisdom Tree, they've been applying for BTC ETF, Spot ETF.

And because Spot ETF is very different from Futures ETF, due to the fact that if the spot ETF is approved, all those asset management firms have to hold BTC and the amount of influx that we're looking at, I personally think that might be 100 billion that we're looking at because great-scale BTC, GBTC has actually about 200, sorry, 20 billion in their asset management under GBTC and with BTC ETF, BTC spot ETF approved, the amount we're looking at for all those 7 institutions together can be very huge.

So the trigger event obviously is about SEC review.

They will announce the next round of review I think October this year, but very likely there may be another round of delay but the deadline is actually next year March or April.

So we will get a result next year and if we do, very likely you'll be all the ETFs passed, approved together.

So because of time scheme, I'm not going to detail explaining layer 1, 2, 3.

I guess many of you are very well educated about the differences.

If you want to find out more, talk to me later.

And KanKun upgrade will happen this year, October and we think that's a very important event driving the layer 2 hype, especially SDFi, DeFi as well as Ethereum price And then the fourth trend I want to share is about new public chains.

So another round of hands, how many of you did participate in the Arbitrum airdrop?

So you guys know that by interacting with Arbitrum ecosystem before their launch of ARB token, you probably have got some benefit like what we shared here.

There are 28% of the addresses got some ARB airdrop and according to the price of their launch, it's actually quite significant, like more than a thousand USD we are talking about here.

So if you want to get more public chain like ARB sort of airdrop, there are actually more projects that we think have high potential.

There are actually 5 on my list and you can find out more from me after this.

The fifth trend we want to share is TGbots.

I've been experimenting with TGbot as well and we know TON, which is the Telegram's token, has been launched and the Unibot, this is the largest TGbot platform or the bot on Telegram right now, So they have the largest market share and take a look at those projects and those tokens.

We think there are huge potential as well.

And finally, let me share a bit about Biget.

So we are actually a top 5 global exchange, especially if you look at the derivative market.

We are very strong in derivative market and we started off in derivative market.

But for spot market, we're about top 10 and this is according to Forbes, CoinGecko, CoinMarketCap, Cointelegraph, etc.

And tomorrow I will have another panel, it's an all exchange panel on the main stage with KuCoin, Bybit, Biget as well as OKX.

So feel free to join us again for another session tomorrow at Token249 main stage.

We have 20 million users around the world.

Our daily trading volume varies from 3 billion to 10 billion USD and right now we have lots of coins listed, we have a protection fund which is actually the second largest protection fund in the space right now, other than Binance Safo, which is to protect our users and we are the world's largest copy trading platform.

And also we are not just doing exchange business, we have a big ecosystem.

At BigGat, there is an investment team, there is First-Time News, First-Time Venture.

These are some of our strategic placement and also if you want to know more about BigGat and know more about crypto space in general, you can take a look at our learn, like Big Ed, Big Ed research team.

They are much more sector-driven and specific than me when it comes to research and academics.

And last but not least, I just want to quickly share we think crypto, our running exchange, is actually running a marathon.

So we are a long distance runner and we think, although right now it's still a bear market, it's a cold winter still, but we are at like the second half of the bear market and very likely bull market will come next year.

So when that happens, Bitcoin price will increase, and more talents come to the space.

There will be more innovative projects built in Web3 and crypto.

And I'm very happy to discuss with you on some potential investment opportunities, listing coins at our exchange or just to make friends.


Speaker 0: Good morning, everyone. I'm Gracie Chen, managing director of Biget. Since I arrived slightly later because of traffic, I'm really sorry. So I'll spend about 7 minutes just to go through some global outlook trends that we think are very important this year and next year and also share a little bit about Big Ad, what we do, you might see our logo somewhere and what we do. Actually, we had a very exciting launch yesterday.

I'll share with you guys about that as well. So let's look at what are the important things happening this year. So there are actually 5. This click doesn't work, but basically we will look at, okay here we are. So there are 5 trends that we think are very important this year and next year.

Fed's interest rate cut because right now the Fed interest rate is about 5.25 to 5% 5.5% which is unsustainable in our opinion and we think the decrease might happen next year and that means the money will flow into different markets when the bond market is having an interest rate cut and 1 of those markets benefiting is definitely Bitcoin and cryptocurrency industry. And the second trend, BTC. So everyone cares about what's the BTC price. I'll share with you about our opinions. Basically, Huffing and Spot ETF, these 2 events will drive the price mainly, especially Spot ETF.

It's becoming clearer and clearer that you will be approved. And then Ethereum, Kankun upgrade, some new public chains and also TG bots. Alright, let's move on. So touch a bit on the decrease of interest rate already. Right now it's very high and with interest rate cuts, money will flow into our space.

As for BTC huffing, so we know Bitcoin right now consists about 50% of the whole market cap and I just want to have a show of hands. How many of you think Bitcoin huffing will still have a huge impact in the Bitcoin industry? Okay, about maybe a quarter and how many of you think it may not have a huge impact? Nobody? There's a few.

Another I guess 20%? Okay, I'm more on the later side, honestly, but because of the fact that BTC ETF will very likely be approved also next year, early half of the next year, as well as the interest rate decrease. We think the time might still coincide with the Bitcoin halving, but it's not because halving has a huge impact. But basically, people have different views. I would love to talk to you guys after the session and find out more about what you think and let's discuss.

So, Spot ETF, as we know, there are 7 big institutions in the United States, including BlackRock, Fidelity, Wisdom Tree, they've been applying for BTC ETF, Spot ETF. And because Spot ETF is very different from Futures ETF, due to the fact that if the spot ETF is approved, all those asset management firms have to hold BTC and the amount of influx that we're looking at, I personally think that might be 100 billion that we're looking at because great-scale BTC, GBTC has actually about 200, sorry, 20 billion in their asset management under GBTC and with BTC ETF, BTC spot ETF approved, the amount we're looking at for all those 7 institutions together can be very huge. So the trigger event obviously is about SEC review. They will announce the next round of review I think October this year, but very likely there may be another round of delay but the deadline is actually next year March or April. So we will get a result next year and if we do, very likely you'll be all the ETFs passed, approved together.

KanKun upgrade. So because of time scheme, I'm not going to detail explaining layer 1, 2, 3. I guess many of you are very well educated about the differences. If you want to find out more, talk to me later. And KanKun upgrade will happen this year, October and we think that's a very important event driving the layer 2 hype, especially SDFi, DeFi as well as Ethereum price And then the fourth trend I want to share is about new public chains.

So another round of hands, how many of you did participate in the Arbitrum airdrop? Anyone? Oh, good for you. So you guys know that by interacting with Arbitrum ecosystem before their launch of ARB token, you probably have got some benefit like what we shared here. There are 28% of the addresses got some ARB airdrop and according to the price of their launch, it's actually quite significant, like more than a thousand USD we are talking about here.

So if you want to get more public chain like ARB sort of airdrop, there are actually more projects that we think have high potential. There are actually 5 on my list and you can find out more from me after this. The fifth trend we want to share is TGbots. I've been experimenting with TGbot as well and we know TON, which is the Telegram's token, has been launched and the Unibot, this is the largest TGbot platform or the bot on Telegram right now, So they have the largest market share and take a look at those projects and those tokens. We think there are huge potential as well.

And finally, let me share a bit about Biget. So we are actually a top 5 global exchange, especially if you look at the derivative market. We are very strong in derivative market and we started off in derivative market. But for spot market, we're about top 10 and this is according to Forbes, CoinGecko, CoinMarketCap, Cointelegraph, etc. And tomorrow I will have another panel, it's an all exchange panel on the main stage with KuCoin, Bybit, Biget as well as OKX.

So feel free to join us again for another session tomorrow at Token249 main stage. And here are some numbers about us. We have 20 million users around the world. Our daily trading volume varies from 3 billion to 10 billion USD and right now we have lots of coins listed, we have a protection fund which is actually the second largest protection fund in the space right now, other than Binance Safo, which is to protect our users and we are the world's largest copy trading platform. And also we are not just doing exchange business, we have a big ecosystem.

At BigGat, there is an investment team, there is First-Time News, First-Time Venture. These are some of our strategic placement and also if you want to know more about BigGat and know more about crypto space in general, you can take a look at our learn, like Big Ed, Big Ed research team. We have shared lots of content. They are much more sector-driven and specific than me when it comes to research and academics. And last but not least, I just want to quickly share we think crypto, our running exchange, is actually running a marathon.

So we are a long distance runner and we think, although right now it's still a bear market, it's a cold winter still, but we are at like the second half of the bear market and very likely bull market will come next year. So when that happens, Bitcoin price will increase, and more talents come to the space. There will be more innovative projects built in Web3 and crypto. That's all from me. Thank you very much.

Feel free to contact me. I'll be there after this speech. And I'm very happy to discuss with you on some potential investment opportunities, listing coins at our exchange or just to make friends. Thank you.

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Global Lookout - Looking Back and Looking Forward - TOKEN2049 Singapore 2023